Venmo Complaints: Avoiding Scams and Getting Help

If you're a Venmo user, you're likely aware of the convenience and speed of sending and receiving money with just a few taps on your phone. However, with great convenience comes the risk of scams.

Scammers often target Venmo users by sending fake payment requests or asking for money in exchange for goods or services that don't exist. According to the article, Venmo's own website warns users to be cautious of "friend" requests from people they don't know.

To avoid falling victim to scams, make sure to only send money to people you trust and have a history of transacting with.

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To avoid being scammed on Venmo, be cautious with transactions from unknown individuals. Scammers often use social engineering tactics, such as phishing, to get you to click links with malware or viruses, or transfer money.

Common Venmo scams include scammers impersonating a consumer's bank to alert them about suspicious activity on their account, fraudsters reaching out to consumers claiming to represent a fraud department or merchant, and scammers posing as a legitimate business requesting a P2P payment for a product or service.

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To prevent these scams, never share your personal information, treat P2P payments like cash, and not pay for products until you receive them. If you believe you've been targeted by a scammer, block the user in Venmo by searching for their profile, tapping on the three circles in the upper-right corner, and selecting "Block."

If you've been scammed, act quickly to recover your lost money. Take screenshots of the scam and record any information about it. Then, provide this information to Venmo and secure any linked accounts.

Here are some steps to take if you've been scammed on Venmo:

Additionally, report internet scams to the Federal Trade Commission (FTC), and file a report with the FTC could help law enforcement partners with wider investigations.

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If you see unauthorized activity in your Venmo account, you may have been hacked. You'll want to immediately secure your account to prevent further losses.

To secure your account, change your password immediately if you still have access to your account. Log in to your account via the Venmo website or app, select Settings, Profile, and then Change Password.

If hackers have changed your Venmo account password, you'll need to request a password reset. Go to your Venmo account's sign-in page and select Forgot Password to get a password reset link.

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If you see unauthorized activity in your Venmo account, you may have been hacked. Immediately secure your account to prevent further losses.

Change your Venmo password as soon as possible if you still have access to your account. To do this, log in to your account via the Venmo website or app, select Settings, Profile, and then Change Password, and enter your current password first before selecting a new one.

If hackers have changed your Venmo account password, you'll need to request a password reset. Go to your Venmo account's sign-in page and select Forgot Password, then enter the email and phone number attached to your account to get a password reset link.

To block a scammer in Venmo, use the search bar at the top of the Venmo app to find the scammer and go to their profile page, then tap on the three circles (“...”) in the upper-right corner of the screen and select “Block.” This will prevent the scammer from contacting you or sending you money requests or payments.

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If you're concerned about a money request in your Venmo account, be skeptical of any emergency money requests in general. If you're concerned the claim is actually real, contact your loved one on the phone or face to face if possible.

Here are some common Venmo scams to watch out for:

Don't accept any mysterious payments you get on Venmo or other cash apps. Wait for Venmo to reverse the payment or contact customer service.

If you receive a payment from an unknown sender on Venmo, don't respond directly to them. Contact Venmo and let them know the details so they can investigate and reverse the transaction if it's a scam.

Never respond to users about "accidental payments" or send money back to the scammer, as the payment may be from a stolen or fraudulent account and will be reversed soon.

Venmo doesn't hold payments until sellers ship items, so be cautious of scammers who claim otherwise.

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If you receive a mysterious payment, wait for Venmo to reverse it or contact customer service.

Here are some red flags to watch out for:

Don't accept any mysterious payments you get on Venmo or other cash apps.

Payment issues can be frustrating, especially if you're relying on Venmo for everyday transactions. Some users have reported receiving incorrect payments, with amounts being sent in error.

Users have also experienced delays in receiving their payments, with some reports of payments taking several days to clear. This can be particularly problematic if you're relying on the funds for a specific expense or bill.

In some cases, users have reported being charged multiple times for the same transaction, resulting in overpaid accounts.

If you receive a mysterious Venmo payment, don't respond directly to the sender. This is a common scam tactic.

The scammer will claim the payment was sent by accident and ask you to return it, but in reality, the account is likely stolen or fraudulent. Contact Venmo instead and report the incident so they can investigate and reverse the transaction if necessary.

You can also avoid falling for this scam by never accepting payments from unknown senders. Wait for Venmo to reverse the payment or contact customer service.

A pending payment may be flagged as "pending" if the scammer hasn't set up an active Venmo account. In this case, you can cancel the payment and get a refund within five business days.

Overpayment scams are a variation of the "accidental payment" scam. You might receive a payment from a scammer that's too much money, and they'll ask you to refund the overpayment.

Don't be fooled by the scammer's request to refund the overpayment through Venmo. Only refund through Venmo support.

If you're unsure about a claim, don't hesitate to call Venmo at (855) 812-4430.

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Fake payment confirmation scams are a common issue, and it's essential to be aware of the tactics scammers use. A scammer will often send a spoofed email with a faked screenshot that looks like they've made the payment.

These scammers might claim that their payment is being held by Venmo until you upload shipping information. You should never ship an item until the funds appear in your Venmo balance.

Selling in-demand items can be a recipe for disaster if you're not careful. Scammers often advertise low-supply/high-demand items and ask for payment through Venmo.

If you're paying a personal Venmo account, tag it as a "payment" before you send it to be covered by Venmo Purchase Protection.

This protection can be a lifesaver if something goes awry with the transaction.

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People often fall victim to scams on Venmo due to their trusting nature. Scammers may contact you via social media or Venmo, feigning romantic interest to persuade you to send them money.

Romance scams often involve catfishers who create fake profiles, then ask for money via Venmo under the guise of a late paycheck or plane tickets. Never send money to someone you haven't met in person and thoroughly trust.

"Get rich quick" scams also exist, where scammers promise big returns in exchange for a small investment. Never pay money via Venmo to get big returns fast, as these are often pyramid schemes.

Scammers may also impersonate a friend or family member to rope you into the scam. Double-check any messages that seem off.

Some common P2P scams include scammers posing as a legitimate business requesting a payment, or connecting a stolen credit card to a payment app to buy big ticket items online.

Here are some red flags to watch out for: